Skywise looks to sell off a ‘sizeable’ stake

SKYWISE Airline, which
shut down operations
on December 2, 2015,
due to unpaid airport
charges, announced on
April 25 that it was now
considering selling off a
“sizeable stake” in the
company, according to a
press release.
The airline said six
companies had expressed
interest, two of which were
based in South Africa.
“We are open to let go
of more than 50% of our
share but only to the local
investors.
“The current expressions
of interest from the
local investors are being
analysed,” said co-chairs
Tabassum Qadir and
J. Malik.
Due to the Air Services
Licensing Act allowing
only a 25% foreign
shareholding, the offers
from the foreign carriers
are under negotiation.